U.S. Stocks Advance on Optimism About Earnings; Microsoft Rises
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U.S. stocks rose, rebounding from the market’s biggest drop this month, as optimism about earnings from technology and energy companies overshadowed a drop in financial shares.
Microsoft Corp. climbed 1.4 percent after UBS AG raised its earnings estimate, citing signs of stronger demand. Halliburton Co. jumped 6 percent after topping analysts’ earnings and revenue estimates. Bank of America Corp. slumped 2.7 percent as Goldman Sachs Group Inc. took the shares off its “conviction buy” list, saying low rates may hurt interest income.